Message Font: Serif | Sans-Serif
No. of Recommendations: 2
Remember that it's likely your basis changed when your husband died.
It did and I have a market valuation at that point - I had forgotten about that.

Have you taken that into account when calculating the expected gain?
I hadn't but will.

Your 2 of 5 years of the use side will start when you make it your primary residence.

It's in the same state and for 2013, it's about 50/50 on time spent in each place - I'd have to actually add it up. If I have 2 of 5 in location one, is there a downside to making location two primary now ? Is it just using it as primary address, etc ? For my state, it only changes car licensing requirements.

Don't forget that you can only exclude gain once every 2 years.

I did - thanks.

Location two doesn't have much gain but I will start running numbers before I do anything.

All help is appreciated. IRL, it is tough to find knowledgeable people and I wanted to have some feedback.
Print the post  


In accordance with IRS Circular 230, you cannot use the contents of any post on The Motley Fool's message boards to avoid tax-related penalties under the Internal Revenue Code or applicable state or local tax law provisions.
What was Your Dumbest Investment?
Share it with us -- and learn from others' stories of flubs.
When Life Gives You Lemons
We all have had hardships and made poor decisions. The important thing is how we respond and grow. Read the story of a Fool who started from nothing, and looks to gain everything.
Community Home
Speak Your Mind, Start Your Blog, Rate Your Stocks

Community Team Fools - who are those TMF's?
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and Glassdoor #1 Company to Work For 2015! Have access to all of TMF's online and email products for FREE, and be paid for your contributions to TMF! Click the link and start your Fool career.